GHL System Berhad Annual Report 2018

a n n u a l r e p o r t 2 0 1 8 119 NOT ES TO THE F I NANC I A L STAT EMENTS 3 1 D e c e m b e r 2 0 1 8 C O N T ’ D 21. TRADE AND OTHER RECEIVABLES (cont’d) (k) The reconciliation of movement in the impairment losses are as follows: Group Company 2018 2017 2018 2017 RM RM RM RM Trade receivables At 1 January under MFRS 139 7,955,623 8,686,814 4,494,356 6,272,834 Restated through opening retained earnings 2,518,371 - 2,545,519 - Opening impairment loss of trade receivables in accordance with MFRS 9 10,473,994 8,686,814 7,039,875 6,272,834 Charge for the financial year 2,818,837 1,410,478 2,460,279 621,522 Reversal of impairment losses (4,247,642) (869,279) (2,545,519) (2,400,000) Written off (629,750) (1,142,624) - - Exchange differences 13,193 (129,766) - - At 31 December 8,428,632 7,955,623 6,954,635 4,494,356 Other receivables At 1 January under MFRS 139 230,436 230,436 27,091,211 26,881,479 Restated through opening retained earnings - - 17,868,414 - Opening impairment loss of other receivables in accordance with MFRS 9 230,436 230,436 44,959,625 26,881,479 Charge for the financial year 40,845 - 16,206,352 209,732 Reversal of impairment losses (10,404) - (21,231,763) - Written off - - (31,699) - At 31 December 260,877 230,436 39,902,515 27,091,211 8,689,509 8,186,059 46,857,150 31,585,567 (l) The Group determines concentration of credit risk by monitoring the country profiles of its trade receivables on an ongoing basis. The credit risk concentration profile of the trade receivables of the Group at the end of each reporting period are as follows: 2018 2017 RM % of total RM % of total By country Malaysia 39,425,539 60 34,531,315 71 Philippines 12,867,999 20 9,506,782 20 Thailand 12,342,934 19 3,614,968 8 Australia 332,792 1 460,401 1 64,969,264 100 48,113,466 100